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It takes borrowers an average of 21 years to repay their student loans, while 28% of students are in default (or miss payments for 270 days or more) within five years of entering repayment.The picture painted by these statistics is clear: many borrowers are in over their heads with student loan debt and are looking for relief.Credit.com’s experts can help you understand how to get control of your debt — the smart way.We share strategies for paying down your debt without hurting your credit score, negotiating with lenders, and dealing with debt collectors."I was so pleased to find it easy to talk to my counselor about my debt problem.He was very helpful in helping me find a budget I could work with and thanks to him, I was able to reduce my interest rate so I could pay off my debt." - V. from FL More Reviews "Thank you for helping me stay out of collections and make progress toward paying off my debt.The last section is dedicated to identifying the best private consolidation loans for those with a few different financial profiles.There are two types of consolidation loans: federal and private, and they each come with distinct advantages and drawbacks.

The benefits of debt consolidation loans are only applicable if you make your full monthly repayments on time.

Debt consolidation is the process of borrowing money to pay off what you owe to your existing lenders. When you take out an unsecured debt consolidation loan, your assets are not at risk if you fail to make repayments. As such, you will need a good credit rating and you might expect to pay a higher rate of interest.

This leaves you with just one debt and one outgoing payment which might make it easier to manage your outgoings. A secured consolidation loan will typically be secured against your home. The important implication of using your home as collateral is that if you fail to meet your repayment schedule, you could lose your home.

They made it simple and treated me with respect and have always been super friendly. " - James from MA More Reviews "ACCC provided me with this plan of how to get out of debt, and also taught me how to stay out of debt.

If I have any questions, [ACCC's] staff is always there to give me the answers. - Madge from FL More Reviews Our certified credit counselors will help you determine the best way to approach your financial situation and provide you the best debt advice options and debt solutions for managing your credit card debt.